Pages:
Author

Topic: To freebitco.in and their representative, TheQuin - page 9. (Read 7089 times)

legendary
Activity: 1820
Merit: 2700
Crypto Swap Exchange
In any case, with such a small sample, it seems quite a high deviation from what the mean should be, I agree.

Is it possible that not all winners came to the Bitcointalk forum and reported their winnings? 5 or 10 big wins in this statistic can significantly change the final assessment, and that is quite a possible scenario.

That is another point. It is a sample of those who reported the winnings. Not a record of casino rolls.

But that's the thing. Even if we had an exact record of all casino rolls, statistical improbabilities are still possible.  Randomness is a key part of gambling, after all.

The point examplens raises about unreported wins is very valid.  A small sample size, especially with missing data, can definitely skew the overall picture.  But, while a complete record of every roll would be fantastic for analysis, it wouldn't eliminate the possibility of outliers entirely. Actually, that's why martingales and similar strategies don't work well in gambling. Even with a perfect 50/50 chance, there's still a very real possibility of hitting a losing streak of twenty, or even more, rolls.

legendary
Activity: 3276
Merit: 2442
Tbh I don’t give a rat’s ass if they have been cheating the free rolls because the players also do cheat.
Not all players cheat. Casinos are supposed to be fair.

We are not talking about the casino function though. Nobody has a complaint about their casinos fairness as far as I am aware.

We are talking about its faucet. Something they give away for clicking a button, for free practically.

When hundreds of players cheat with the faucet clicks, the casino has to protect itself. In the end the fair clickers will pay for the damages the cheaters caused and receive less awards.

That’s of course, if freebitco.in is doing what you are claiming they are doing which I haven’t made my mind on yet
jr. member
Activity: 130
Merit: 3
TheQuin's silence is nothing short of incriminating.
legendary
Activity: 1372
Merit: 2017
Really? One can tell you have no idea about gambling.
Nobody in their right mind would gamble at a casino with 5% house edge, when competitors offer a 1% house edge. This is a faucet, and people spent years clicking them.
By using this "random" number, they can easily manipulate it. All they have to do is reset the server seed once in a while. It's quite obvious they did it for the $200-winners, but unclear if they also did it for the $20 winners. Just a few resets every 10,000 rolls would be enough to reduce the total cost of their faucet (which is after all meant to get people hooked to gambling) by up to 90%. They couldn't do that with a fixed faucet amount.

See, that's why I'm telling you that you have no idea how gambling works. And, on the contrary, wetsuit did. The business casinos don't do with people who think about the House Edge, because gambling already doesn't make much sense to begin with when there is a House Edge. You are inevitably going to lose money in the long run. The difference between 1 and 3 or 5% to those players who are profitable for the casino does not matter, many of them do not even know what it is, and many others have some idea but do not care, they prefer to play on a site with 5% than in another 1% if certain things they like more of the site.

You probably understand House Edge and mathematics better than 99% of those who write in the gambling section, that's why you don't bet, but what you don't understand is how the business works. The audience that wetsuit and other casino owners are looking for is not you or me.


You know that such a small sample doesn't prove anything, don't you?
I manually counted 10 pages. If you think my sample size is too small, feel free to count all 152 pages for a much larger sample size.

There's no way I'm going to waste my time. You know that sample size doesn't prove anything, because if it did, no matter how conservative you are with your feedbacks you would have red tagged them long ago. Not even counting everyone in that thread one by one would do it. I'm used to in poker that to get an idea the minimum sample size is 50K hands. And as brutal as variance can be, to prove things, better half a million hands.

... this doesn't have a 5% chance of happening, it's 20,000 times less! And this is exactly what I meant when I said the bad signs were there, but were massively ignored. The odds of this happening twice in a row are several orders of magnitude lower. Count the rest of the topic, and you'll see this pattern continues.

In any case, with such a small sample, it seems quite a high deviation from what the mean should be, I agree.

Is it possible that not all winners came to the Bitcointalk forum and reported their winnings? 5 or 10 big wins in this statistic can significantly change the final assessment, and that is quite a possible scenario.

That is another point. It is a sample of those who reported the winnings. Not a record of casino rolls.
legendary
Activity: 3472
Merit: 3507
Crypto Swap Exchange
I manually counted 10 pages. If you think my sample size is too small, feel free to count all 152 pages for a much larger sample size.

Math time!
118 rolls (and correcting my mistake from 2018):


Is it possible that not all winners came to the Bitcointalk forum and reported their winnings? 5 or 10 big wins in this statistic can significantly change the final assessment, and that is quite a possible scenario.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
The difference is due to the way that FBC rounds the number. I believe it was TheQuin who actually explained how it works once, but basically he said the chance of spinning a 10000 is only half of how it appears... I can't find the exact post that explains it but this is why the $200 win happens disproportionately less often than the $20 win.
That means anything under 9999.5 is rounded down. I accounted for that in my post above. There's still a factor 12.5 unaccounted for.
legendary
Activity: 3010
Merit: 8114
I probably miscounted a bit, but let's round it down: winning $200 is 50 times less likely than winning $20, and that makes the difference 25 12.5 times larger than it should be.

You know that such a small sample doesn't prove anything, don't you? Every day I see plays that have a 5% or less chance of happening.

The difference is due to the way that FBC rounds the number. I believe it was TheQuin who actually explained how it works once, but basically he said the chance of spinning a 10000 is only half of how it appears... I can't find the exact post that explains it but this is why the $200 win happens disproportionately less often than the $20 win.

Regardless, it seems to me the prudent thing to do is to continue supporting the flag on wetsuit until management explains what happened with user funds in these incidents.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
Tbh I don’t give a rat’s ass if they have been cheating the free rolls because the players also do cheat.
Not all players cheat. Casinos are supposed to be fair.

Really? One can tell you have no idea about gambling.
Nobody in their right mind would gamble at a casino with 5% house edge, when competitors offer a 1% house edge. This is a faucet, and people spent years clicking them.
By using this "random" number, they can easily manipulate it. All they have to do is reset the server seed once in a while. It's quite obvious they did it for the $200-winners, but unclear if they also did it for the $20 winners. Just a few resets every 10,000 rolls would be enough to reduce the total cost of their faucet (which is after all meant to get people hooked to gambling) by up to 90%. They couldn't do that with a fixed faucet amount.

Based on the odds, I would expect one $200 winner for every 2 $20 winners.
I did a (manual) count on pages 5, 10, 15, 20, 25, 30, 35, 40, 45, and 50 on Big wins at FreeBitco.in:
I just won $20 at FreeBitco.in! 116 times
I just won $200 at FreeBitco.in! 2 times
I probably miscounted a bit, but let's round it down: winning $200 is 50 times less likely than winning $20, and that makes the difference 25 12.5 times larger than it should be.
You know that such a small sample doesn't prove anything, don't you? Every day I see plays that have a 5% or less chance of happening.
I manually counted 10 pages. If you think my sample size is too small, feel free to count all 152 pages for a much larger sample size.

Math time!
118 rolls (and correcting my mistake from 2018):
1 number pays $200 for every 4 numbers that pay $20 (I'm ignoring all rolls other than the 2 highest winners).
Expected outcome: around 23.6 times $200, and 94.4 times $20.
Reality: 2 times $200, and 116 times $20.
What are the odds of this happening?
My statistical math is rusty so I'm taking shortcuts: let's say it took 59 rolls to hit $200.
Odds of hitting $20 at the first roll: 0.8
Odds of hitting $20 in the first 2 rolls: 0.82=0.64
....
Odds of hitting $20 in the first 58 rolls: 0.858=0.00000239452. That's 0.000239% chance. Note that I ignored the other half of the counted rolls.
So, and correct me if my math is wrong: this doesn't have a 5% chance of happening, it's 20,000 times less! And this is exactly what I meant when I said the bad signs were there, but were massively ignored. The odds of this happening twice in a row are several orders of magnitude lower. Count the rest of the topic, and you'll see this pattern continues.
legendary
Activity: 1372
Merit: 2017

The bad signs were there for years, but massively ignored. Read Freebitco.in provably cheating:
You should probably move (bottom-left) this to Scam Accusations.

I've often wondered if they're legit, based on the average cost per faucet claim:
1 number pays $200
2 numbers pay $20
4 numbers pay $2
8 numbers pay $0.20
100 numbers pay $0.02
9886 numbers pay $0.002

I've always wanted to know if they really pay $271.37 on average for 10000 rolls. And if so, why don't they just pay $0.027 for each roll? They'd have the highest paying faucet, while it would cost them the same amount in total.

Really? One can tell you have no idea about gambling. Tell the same to the Euromillions lottery to see if they pay attention to you. Anyone who knows a little about gambling knows that Euromillions collects so much precisely because it does the opposite of what you suggest.

Based on the odds, I would expect one $200 winner for every 2 $20 winners.
I did a (manual) count on pages 5, 10, 15, 20, 25, 30, 35, 40, 45, and 50 on Big wins at FreeBitco.in:
I just won $20 at FreeBitco.in! 116 times
I just won $200 at FreeBitco.in! 2 times
I probably miscounted a bit, but let's round it down: winning $200 is 50 times less likely than winning $20, and that makes the difference 25 12.5 times larger than it should be.

You know that such a small sample doesn't prove anything, don't you? Every day I see plays that have a 5% or less chance of happening.
member
Activity: 994
Merit: 46
Maybe TheQuin left his position and they are having a hard time to find somebody as dedicated as him. When theQuin was active, he was quick to respond to every accusation. Most of the time the accusers were cheaters and he was posting proof to show everyone the scammers’ real intentions. Maybe he had enough money and decided that it is not worth to deal with the scammers for the rest of his life. I can’t blame him. What good is it to have lots of money but you don’t have time to enjoy it? Wetsuit has been probably doing the same thing for the last 7-8 years. Now they need to find somebody else who will carry the burden.

It still does not excuse the fact that he's literally still browsing the forum so has to make at least one post explaining what is going on with all this stuff. Then he can bow out if he wants.

(No, I am not affected by the freebitcoin shenanigans)
Few times I already send messages to @TheQuin, but I never have any reply just because of this now I am also having feeling he is not part of this team and already part away with now after 23rd May he is no coming online because this he was checking things even not giving any reply or update, but he was 2 or 3 times in weeks coming online.

Admin of the site is also having never visit but hopefully now we will have some updates as they are working on few PRO which will give updates and also give replies to users about their concerns because now this is huge business, and they need to care about this.
legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
Maybe TheQuin left his position and they are having a hard time to find somebody as dedicated as him. When theQuin was active, he was quick to respond to every accusation. Most of the time the accusers were cheaters and he was posting proof to show everyone the scammers’ real intentions. Maybe he had enough money and decided that it is not worth to deal with the scammers for the rest of his life. I can’t blame him. What good is it to have lots of money but you don’t have time to enjoy it? Wetsuit has been probably doing the same thing for the last 7-8 years. Now they need to find somebody else who will carry the burden.

It still does not excuse the fact that he's literally still browsing the forum so has to make at least one post explaining what is going on with all this stuff. Then he can bow out if he wants.

(No, I am not affected by the freebitcoin shenanigans)
legendary
Activity: 3276
Merit: 2442
Tbh I don’t give a rat’s ass if they have been cheating the free rolls because the players also do cheat. Some people even use bots which act like a real player because you can program a bot with random behavior. No business can survive against thousands of scammers that look for any potential crack to be abused.

They have been paying 4% annual interest like a clockwork, I have never experienced any problems withdrawals and many people also haven’t for years and their sports betting uses parimutuel betting which doesn’t exist on any other crypto casino as far as I am aware.

When I add up everything together, I can easily say freebitco.in is a net positive, by a yuge margin.
legendary
Activity: 3290
Merit: 16489
Thick-Skinned Gang Leader and Golden Feather 2021
Bad signs all around.
The bad signs were there for years, but massively ignored. Read Freebitco.in provably cheating:
You should probably move (bottom-left) this to Scam Accusations.

I've often wondered if they're legit, based on the average cost per faucet claim:
1 number pays $200
2 numbers pay $20
4 numbers pay $2
8 numbers pay $0.20
100 numbers pay $0.02
9886 numbers pay $0.002

I've always wanted to know if they really pay $271.37 on average for 10000 rolls. And if so, why don't they just pay $0.027 for each roll? They'd have the highest paying faucet, while it would cost them the same amount in total.
Because they choose not to pay the average amount for each roll, but made it a jackpot system, cheating would be possible and largely go unnoticed. Especially if they only cheat once every few thousand rolls.

Based on the odds, I would expect one $200 winner for every 2 $20 winners.
I did a (manual) count on pages 5, 10, 15, 20, 25, 30, 35, 40, 45, and 50 on Big wins at FreeBitco.in:
I just won $20 at FreeBitco.in! 116 times
I just won $200 at FreeBitco.in! 2 times
I probably miscounted a bit, but let's round it down: winning $200 is 50 times less likely than winning $20, and that makes the difference 25 12.5 times larger than it should be.

When theQuin was active, he was quick to respond to every accusation. Most of the time the accusers were cheaters and he was posting proof to show everyone the scammers’ real intentions.
To me, it always seemed like he just wanted to silence the accusations, and that worked quite well.

Except for the case in which he knew he couldn't bully me, so he didn't respond at all:
Interesting. It would be interesting to hear statement from wetsuit or TheQuin.
I find it interesting that for years they haven't responded here. I still believe the accusations are plausible.
member
Activity: 728
Merit: 17
I am a premium member in game ( buy FUN) and i must receive free roll every day, but 3-4 days i do not see me 4 free roll (((
jr. member
Activity: 130
Merit: 3
freebitco.in if you are not responsible for our lost funds then say it.

Don't be silent. Say something. Anything.

We need truth and certainty.
legendary
Activity: 3276
Merit: 2442
Maybe TheQuin left his position and they are having a hard time to find somebody as dedicated as him. When theQuin was active, he was quick to respond to every accusation. Most of the time the accusers were cheaters and he was posting proof to show everyone the scammers’ real intentions. Maybe he had enough money and decided that it is not worth to deal with the scammers for the rest of his life. I can’t blame him. What good is it to have lots of money but you don’t have time to enjoy it? Wetsuit has been probably doing the same thing for the last 7-8 years. Now they need to find somebody else who will carry the burden.
jr. member
Activity: 198
Merit: 3
I doubt very much this a scam, they are just disorganized and basically just an amateur operation. Let's hope they hire a decent support team and actually explain what went wrong.

This their original account or might be connected to the team in some way Name free-bit.co.in Registered June 08, 2014
https://bitcointalksearch.org/user/free-bitcoin-341170
jr. member
Activity: 72
Merit: 1
I doubt very much this a scam, they are just disorganized and basically just an amateur operation. Let's hope they hire a decent support team and actually explain what went wrong.
jr. member
Activity: 130
Merit: 3
People are free to speculate as they wish.

Is it possible TheQuin stole our wagering contest prizes?

TheQuin hasn't responded to any of us. Our private messages ignored by him.

Maybe that's why they are looking for new staff?

This was a targeted attack on the high-rollers and wagering contest winners.

Why were only the wagering contest winners targeted?

And perhaps the email backlog was caused by an SMTP DDoS attack by a disgruntled victim or staff

How can the PR account acknowledge the email issue yet ignore the stolen funds. Why be silent on this

I have no options. No response from support. TheQuin ignores us.

I am left with nothing other than to post a scam accusation.

I will delay this only another week or two.

I'm all out of options.

I've been using fbtc for over six years. Never had a problem until my funds were stolen.
hero member
Activity: 1400
Merit: 623
^ @examplens is right about the reference of the flag since this thread only mention about the pending withdrawal issue.

But the real problem that is not addressed yet aside from this pending withdrawal is the security due to changing of withdrawal address during the withdraw process. Many whale user experience this including high rank member here. You can read this thread as reference https://bitcointalksearch.org/topic/m.64024210


So there looking for staff at freebitco.in?
That means that someone is in theory there at least doing something at freebitco.in whether or not it's anything big or small will just say that somebody's there doing something. And if that is the case, the least they could do is acknowledge that some BS happen with the wagering contest about a month ago and the top 10 wagers all had their money stolen. Oh and by the way we're looking for new staff.

However, no mention of any kind of problems going on, just to mention that they're looking to staff free bitco.in.

That's pretty pathetic. At least acknowledge that there's some s*** going on. That's not right and then ask for staffing.

I want the $500  that was stolen from me
How about we work on getting some answerers
For all the people that were robbed of their money after the monthly wagering contest concluded.

Why do we keep sitting here speculating whether or not free? Big Cody and is still a legitimate place and to be trusted. Hell no they're not to be trusted. Absolutely not. No question. They are not to be trusted. Just end the conversation. There doesn't need to go on anymore. They are not to be trusted until we get a resolution to the monthly wagering contest that was corrupted.

We want our money. Somebody say something. I don't care if you're the pr person wetsuit or the Quinn himself f****** say something

This post above is from one of the user that experienced this same security issue which is never addressed by the PR on his recent announcement. This issue started all the doubt about freebitco.in before this delay withdrawal problem.
Pages:
Jump to: